by: Bill Prichard
CO-OP Financial Services is re-launching CO-OP Mobile, its mobile banking application now featuring optional real-time, person-to-person payments and remote check deposit capabilities for credit union smartphone users.
CO-OP Mobile enables credit unions to offer a leading-edge, custom-branded app tailored to the needs of their members – without the costly and time-consuming complexities involved in developing an in-house solution.
Originally introduced in February 2009, CO-OP Mobile is being reintroduced to take advantage of CO-OP’s new person-to-person payments network called RealPay by CO-OP, incorporating the FIS PayNet platform. CO-OP Mobile is a fully customizable and configurable mobile app for credit unions, utilizing the same connection technology as CO-OP Shared Branch transactions, which expedites implementation for credit unions already participating in that network.
The new CO-OP Mobile was tested prior to introduction by Democracy FCU of Washington, D.C.
“CO-OP Mobile allows us to deliver more services to members through their smartphones, which is critical because surveys show 50 percent of adults have smartphones – and keep them handy all the time,” said Bill Cook, Vice President, Administration, for Democracy FCU. “This version of CO-OP Mobile enables P2P payments and remote deposit capture – features of mobile banking we will be able to offer our members for the first time. It also fits well with our shared branching concept – we want to be wherever our members go, and now we will be right in the palm of their hand.
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